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FINRA · General Securities Representative

Pass the Series 7 on the first try.

The broad representative license that lets a registered rep recommend and sell almost every kind of security. Our course covers every topic on the official outline, reads every lesson aloud, and tells you exactly when you're ready to book.

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One-time payment · 12 months of access · Study on any device

  • Every topic coveredMapped to the official outline. Nothing tested is left out.
  • Know when you’re readyA green light on every chapter before you book.
  • Read it or hear itEvery lesson can be read aloud, on any device.
  • One price, no subscriptionFrom $199, paid once. 12 months of access.
The exam

What's on the Series 7.

Covers the full range of products a representative works with: stocks, corporate and government bonds, municipal securities, options, packaged products and direct participation programs, plus margin, taxation, retirement accounts and order handling. About three-quarters of the exam is about products, analysis and recommendations. Passing it together with the SIE qualifies you to register as a General Securities Representative.

Who takes it. Financial advisors and brokers at retail and full-service broker-dealers, sponsored by their firm.

Official FINRA exam page ↗
How the 125 scored questions are split
1. Seeks Business for the Broker-Dealer from Customers and Potential Customers7%
9 questions
2. Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives9%
11 questions
3. Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records73%
91 questions
4. Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions11%
14 questions
Inside the course

Everything you need to pass the Series 7.

Every chapter maps to the official outline and ends with a 30-question quiz that tells you whether you're ready to move on.

24chapters, about 18 hours of reading
2,448practice and exam questions
1,077flashcards with read-aloud
17interactive visuals
2timed exams: a 60-question midterm and 125-question final
Curriculum · click a chapter to see its lessons
Function 1: Seeks Business for the Broker-Dealer from Customers and Potential Customers
1Communications with the Public8 lessons · 49 min
  1. 1.1The Three Categories of Communications
  2. 1.2Approval, Review, Filing and Recordkeeping
  3. 1.3Content Standards
  4. 1.4Social Media, Seminars, Public Appearances and Telephone Contacts
  5. 1.5Securities Act Section 5 and Investment Company Communications
  6. 1.6Variable Contracts, Options, CMOs, Government Securities and CDs
  7. 1.7Municipal Securities Advertising
  8. 1.8Research Reports
2Bringing New Issues to Market9 lessons · 50 min
  1. 2.1The Process for Bringing a New Issue to Market
  2. 2.2The Registration Statement and SEC Review
  3. 2.3IPO Communications: Restrictions on Prospecting and Soliciting
  4. 2.4IPO Purchase and Allocation Rules
  5. 2.5Syndicate Formation and Agreements
  6. 2.6Stabilization, the Green Shoe and Regulation M
  7. 2.7Pricing and the Underwriting Spread
  8. 2.8Selling Practices: Fixed-Price Offerings, Networking and Taping
  9. 2.9Prospectus Requirements and Offering Information by Period
3Exempt Offerings and the Municipal Primary Market9 lessons · 51 min
  1. 3.1Exempt Securities and Exempt Transactions
  2. 3.2Accredited Investors and the Structure of Regulation D
  3. 3.3Regulation D Conditions: Disclosure, Verification, Form D and Bad Actors
  4. 3.4Regulation A, Crowdfunding and Intrastate Offerings
  5. 3.5Resales Under Rule 144 and Business Combinations Under Rule 145
  6. 3.6Rule 144A, Qualified Institutional Buyers and Regulation S
  7. 3.7Municipal Primary Financing: Competitive, Negotiated and Private Offerings
  8. 3.8The Municipal Underwriting Syndicate: Accounts, Orders and Compensation
  9. 3.9Official Statements and Municipal Disclosure Rules
Function 2: Opens Accounts After Obtaining and Evaluating Customers' Financial Profile and Investment Objectives
4Opening Customer Accounts9 lessons · 49 min
  1. 4.1Cash, Margin, DVP and Prime Brokerage Accounts
  2. 4.2Advisory, Fee-Based and Day-Trading Accounts
  3. 4.3Individual and Joint Registrations
  4. 4.4Business, Fiduciary and Estate Registrations
  5. 4.5Requirements for Opening Accounts
  6. 4.6Wealth Events, Registration Changes and Internal Transfers
  7. 4.7Customer Screening: CIP, KYC, Residency, Insiders and Industry Employees
  8. 4.8Privacy and Information Security: Regulation S-P
  9. 4.9Account Authorizations: Powers of Attorney, Entity Documents and Discretion
5Retirement Plans and Tax-Advantaged Accounts9 lessons · 48 min
  1. 5.1Traditional IRAs: Eligibility, Contributions and Deductions
  2. 5.2Roth IRAs and Roth Conversions
  3. 5.3SEP, SIMPLE and Other Plans for Small Businesses
  4. 5.4Qualified Plans, ERISA and the IRC Section 415 Limits
  5. 5.5401(k), 403(b) and 457 Plans
  6. 5.6Nonqualified Deferred Compensation, Stock Options and Stock Purchase Plans
  7. 5.7Distributions: Taxation, Early Withdrawals and RMDs
  8. 5.8Rollovers, Transfers and Permissible Investments
  9. 5.9Education Savings and ABLE Accounts: IRC Sections 529 and 530
6Investment Profiles, Suitability and Account Approval9 lessons · 44 min
  1. 6.1Essential Facts and the Investment Profile
  2. 6.2Financial Factors: Holdings, Assets, Liabilities, Income and Taxes
  3. 6.3Personal Factors: Age, Family, Work, Home, Options, Insurance and Liquidity
  4. 6.4Investment Objectives, Time Horizon and Risk Tolerance
  5. 6.5Which Standard Applies: Reg BI, FINRA 2111 and MSRB G-19
  6. 6.6The Care Obligations in Practice
  7. 6.7Strategies, Recommendations to Hold, Analysis Tools and Investor Verification
  8. 6.8Supervisory Review and Approval of Accounts
  9. 6.9Handling Customer Assets and Refusing, Restricting or Closing Accounts
Function 3: Provides Customers with Information About Investments, Makes Recommendations, Transfers Assets and Maintains Appropriate Records
7Portfolio Theory and Fundamental Analysis9 lessons · 46 min
  1. 7.1Customer Factors in Security Selection
  2. 7.2Portfolio Analysis: Diversification, Allocation, Concentration, Volatility and Taxes
  3. 7.3Portfolio Theory: Beta, Alpha and the Capital Asset Pricing Model
  4. 7.4Annual Reports, Corporate Action Notices and Tender Offer Rules
  5. 7.5Financial Statements and the Annual Report
  6. 7.6Inventory Valuation and Depreciation
  7. 7.7The Income Statement: EBIT, EBT, EBITDA and Net Profit
  8. 7.8Measuring Liquidity, Leverage and Efficiency
  9. 7.9Profitability, Asset Coverage and Per-Share Measures
8Equity Securities and Equity Markets9 lessons · 48 min
  1. 8.1Types of Stock and Share Counts
  2. 8.2Rights of Common Stockholders
  3. 8.3Spinoffs, Mergers and Consolidations
  4. 8.4Penny Stocks and the Penny Stock Rules
  5. 8.5Preferred Stock: Dividends, Priority and Types
  6. 8.6Convertible, Callable and Sinking Fund Preferred
  7. 8.7Rights and Warrants
  8. 8.8Where Stocks Trade: Exchanges, OTC, ECNs and Dark Pools
  9. 8.9ADRs and Foreign Equity Securities
9Taxation of Investments, Gifts and Estates9 lessons · 44 min
  1. 9.1Capital Gains, Losses and Holding Periods
  2. 9.2Dividend Distributions: Qualified and Nonqualified
  3. 9.3Wash Sales and Short Sales
  4. 9.4Netting Short-Term and Long-Term Gains and Losses
  5. 9.5When-Issued Securities and Securities Acquired Through Conversion
  6. 9.6Cost Basis After Stock Dividends, Splits and Rights
  7. 9.7Cost Valuation: FIFO, LIFO and Identified Shares
  8. 9.8Gifted and Inherited Securities
  9. 9.9Gift and Estate Taxes
10Investment Companies, ETFs and UITs9 lessons · 47 min
  1. 10.1Investment Companies and the Investment Company Act of 1940
  2. 10.2What the Act Requires: Governance, Practices and Protections
  3. 10.3Types of Funds and Fund Objectives
  4. 10.4Open-End Funds: NAV, Offering Price and Forward Pricing
  5. 10.5Closed-End Funds and Unit Investment Trusts
  6. 10.6Exchange-Traded Funds
  7. 10.7Charges and Expenses: Loads, 12b-1 Fees and Share Classes
  8. 10.8Sales Practices: Breakpoints, Letters of Intent, Exchanges and Dollar-Cost Averaging
  9. 10.9Redemption, Reinvestment and Tax Treatment
11Variable Annuities and Variable Life Insurance9 lessons · 43 min
  1. 11.1Variable Contracts: Structure, Regulation and the Two Phases
  2. 11.2Insurance Features: Guarantees, Death Benefits, Living Benefits and Riders
  3. 11.3The Separate Account
  4. 11.4Valuing a Contract: Accumulation Units, Surrender Value and Annuity Units
  5. 11.5Purchasing a Variable Annuity: Contract Types, Charges and FINRA Rule 2320
  6. 11.6Exchanges: Section 1035 and FINRA Rule 2330
  7. 11.7Annuitization: Payout Options and the Assumed Interest Rate
  8. 11.8Taxation of Variable Annuities
  9. 11.9Variable Life Insurance
12REITs, Direct Participation Programs and Hedge Funds8 lessons · 48 min
  1. 12.1REIT Structure, Types and Trading
  2. 12.2REIT Qualification and Taxation
  3. 12.3DPP Structures: Partnerships, LLCs and Pass-Through Corporations
  4. 12.4How DPPs Are Taxed: Basis, At-Risk and Passive Loss Rules
  5. 12.5Real Estate, Equipment Leasing and Business Development Programs
  6. 12.6Oil and Gas Programs
  7. 12.7DPP Offerings, Evaluation and FINRA Rule 2310
  8. 12.8Hedge Funds, Registered Hedge Funds and Funds of Funds
13Options: Contracts, Values and Basic Strategies8 lessons · 44 min
  1. 13.1Contract Specifications and Opening and Closing Transactions
  2. 13.2Contract Adjustments and Dividends
  3. 13.3Premium: Intrinsic Value, Time Value and What Moves Them
  4. 13.4Volume, Open Interest, Position Limits and Exercise Limits
  5. 13.5The OCC, Exercise, Assignment and Settlement
  6. 13.6Profit and Loss on Long and Short Calls and Puts
  7. 13.7Covered Writing and Protective Hedges for Stock Positions
  8. 13.8Hedging with Index, Foreign Currency and Yield-Based Options
14Options: Spreads, Straddles, Combinations and Taxation9 lessons · 45 min
  1. 14.1Spreads: Types, Debits and Credits
  2. 14.2Call Spreads: Bull Call and Bear Call
  3. 14.3Put Spreads: Bear Put and Bull Put
  4. 14.4Calendar and Diagonal Spreads, and Closing Spreads Early
  5. 14.5Straddles
  6. 14.6Combinations and Collars
  7. 14.7Uncovered Writing: Equity, Index and Yield-Based Options
  8. 14.8Taxing Option Trades: Closing, Expiration, Exercise and Assignment
  9. 14.9Holding Periods, Wash Sales and IRC 1256 Contracts
15Debt Securities and Corporate Bonds8 lessons · 44 min
  1. 15.1Types of Debt Securities and Money Market Instruments
  2. 15.2Bond Characteristics: Structure, Risks and Call Provisions
  3. 15.3Structured Products and Non-U.S. Debt
  4. 15.4Bond Yields and Their Relationship to Price
  5. 15.5Bond Ratings
  6. 15.6Taxation of Taxable Debt Securities
  7. 15.7Types of Corporate Bonds
  8. 15.8Convertible Bonds
16Treasury, Agency and Asset-Backed Securities8 lessons · 41 min
  1. 16.1Treasury Bills and Discount Yields
  2. 16.2Treasury Notes and Bonds: 32nds, Accrued Interest and Auctions
  3. 16.3STRIPS, Treasury Receipts and TIPS
  4. 16.4Agency Securities: Issuers, Backing and Spreads
  5. 16.5Mortgage-Backed Pass-Through Securities
  6. 16.6Collateralized Mortgage Obligations: The Tranches
  7. 16.7CMO Characteristics, Risks and Suitability
  8. 16.8CDOs and Other Asset-Backed Securities
17Municipal Securities: Types, Features and Credit Analysis9 lessons · 48 min
  1. 17.1General Characteristics of Municipal Securities
  2. 17.2Diversification and General Obligation Bond Analysis
  3. 17.3Revenue Bond Analysis, Credit Information and Enhancements
  4. 17.4Types of Municipal Bonds and Short-Term Notes
  5. 17.5Lease-Backed, Taxable, Discount and Variable-Rate Securities
  6. 17.6Municipal Fund Securities: 529 Plans, LGIPs and ABLE Accounts
  7. 17.7Call Features and Put Options
  8. 17.8Refunding Methods
  9. 17.9Factors Affecting the Marketability of Municipal Bonds
18Municipal Securities: Pricing, Math and Taxation8 lessons · 39 min
  1. 18.1Dollar Prices from Yield Quotes
  2. 18.2Accrued Interest
  3. 18.3Premiums, Discounts and Cost Basis
  4. 18.4Price Sensitivity: Maturity, Coupon and the Value of a Basis Point
  5. 18.5Taxable Equivalent Yield
  6. 18.6Current Yield, Yield to Call and Net Yield After Taxes
  7. 18.7Federal and State Tax Treatment
  8. 18.8MSRB Rules on Quotations, Fair Dealing and Prices
19Disclosures, Risks, Returns and Investment Costs9 lessons · 47 min
  1. 19.1Required Disclosures on Specific Transactions
  2. 19.2Investment Risks: Systematic, Nonsystematic, Call, Reinvestment and Timing
  3. 19.3Types of Investment Returns: Tax-Exempt Interest and Return of Capital
  4. 19.4Markups, Markdowns and Commissions: FINRA Rule 2121
  5. 19.5Riskless Principal Trades, Net Transactions and Charges for Services
  6. 19.6Share Classes and Non-Discretionary Fee-Based Accounts
  7. 19.712b-1 Fees, Surrender Charges, M&E Charges and Soft Dollars
  8. 19.8Municipal Material Event Disclosure
  9. 19.9Financial Exploitation of Specified Adults: FINRA Rule 2165
20Market Sentiment and Technical Analysis8 lessons · 37 min
  1. 20.1Technical Analysis and Market Sentiment
  2. 20.2Market Indexes and Averages
  3. 20.3Options Volatility and the Put/Call Ratio
  4. 20.4Momentum, Breadth, Available Funds and Trading Volume
  5. 20.5Short Interest and Index Futures
  6. 20.6Municipal Market Analysis and The Bond Buyer Indexes
  7. 20.7Chart Analysis: Trends, Support, Resistance and Breakouts
  8. 20.8Reversal Patterns, Moving Averages and Overbought or Oversold Markets
21Confirmations, Statements, Transfers and Records9 lessons · 47 min
  1. 21.1Trade Confirmations
  2. 21.2Account Statements and Mailings to Third Parties
  3. 21.3Account Value and Profit and Loss
  4. 21.4Withdrawals and Tenders
  5. 21.5Keeping Customer Records Current
  6. 21.6Transferring Accounts: ACATS and Recruiting Rules
  7. 21.7Books and Records Retention
  8. 21.8Closing Accounts
  9. 21.9Issuer Reporting and Regulation FD
Function 4: Obtains and Verifies Customers' Purchase and Sales Instructions and Agreements; Processes, Completes and Confirms Transactions
22Quotes, Orders, Short Sales and Execution9 lessons · 49 min
  1. 22.1Quotes, Offers at Stated Prices and Trade Execution
  2. 22.2Market, Limit, Stop and Stop-Limit Orders
  3. 22.3Order Qualifiers and Option Spread and Straddle Orders
  4. 22.4Short Sales and Regulation SHO
  5. 22.5Short-Sale Strategies, Securities Lending and Fails
  6. 22.6Best Execution and Order Routing
  7. 22.7Order Tickets, Exchanges and Market-Wide Safeguards
  8. 22.8Market Makers, Quotation Rules and the SEC Order Handling Rules
  9. 22.9Automated Execution, Alternative Trading Systems and Manipulation
23Settlement, Delivery, Trade Reporting and Complaints9 lessons · 45 min
  1. 23.1Regulatory Trade Reporting
  2. 23.2Delivery Requirements and Good Delivery
  3. 23.3Settlement Dates and Special Settlement Contracts
  4. 23.4Ex-Dates, Due Bills and Adjusting Open Orders
  5. 23.5Comparisons, DKs, COD Orders and Extensions
  6. 23.6Errors, Cancels and Rebills, and Clearly Erroneous Transactions
  7. 23.7Customer Complaints
  8. 23.8Arbitration, Mediation and Litigation
  9. 23.9Form U4 Reporting, Investigations and Sanctions
24Margin Accounts and Calculations8 lessons · 43 min
  1. 24.1Margin Account Requirements and Disclosures
  2. 24.2Product-Specific Margin Requirements
  3. 24.3Long Margin Accounts: The Initial Requirement
  4. 24.4Short Margin Accounts and Combined Accounts
  5. 24.5Maintenance Margin and Margin Calls
  6. 24.6Restricted Accounts, Purchases, Sales and Withdrawals
  7. 24.7The Special Memorandum Account
  8. 24.8Portfolio Margin, Intraday Margin and Cboe Margin Rules
Try it free

Five real Series 7 questions. Give them a try.

Straight from the course's question bank, with the same explanations you get when you enroll.

Live sample · Series 7 question bank
Series 7 sample · 5 questions0 right so far
Question 1 of 5
Series 7 · Ch. 1: Communications with the Public●●○ difficulty
Which of the following is an institutional investor under Rule 2210?

Plus two of the Series 7 course's interactive visuals. Go ahead, drag the sliders.

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Plan it

How soon can you be ready for the Series 7?

About 78 hours of focused study in total. Set your pace and see your date.

Estimate per chapter: read it (and re-read the hard parts), drill the flashcards, take the 30-question quiz, review your misses. Then the midterm once and the final twice, with a review after each.

Your Series 7 plan
11 weeks

About 78 hours of focused study. Start today and you'll be exam-ready in about 11 weeks.

Function 1Function 2Function 3Function 4MidtermFinal ×2
Our first-try standard

Book the Series 7 when the course says you're ready.

  • Every chapter green: 80% or better on its full quiz, well above the 72% you need.
  • A passing midterm of 60 questions, taken against the clock.
  • 80%+ on the full 125-question final, twice, on questions you haven't seen.

Failing costs the $395 exam fee again plus a mandatory waiting period before you can retest. One well-prepared attempt is the cheapest path to your license.

Start here

Series 7

General Securities Representative
$199one time
125 questions3h 45m72% to pass
  • 24-chapter textbook mapped to the official outline
  • Voice mode: about 18 hours of lessons, read aloud at 0.5×–2×
  • 2,448 practice and exam questions with explanations
  • 1,077 flashcards
  • 17 interactive visuals and 416 built-in checks
  • Green, yellow and red readiness lights for every chapter
  • 60-question midterm and 125-question timed final
  • 12 months of access on any device
Get the Series 7 course
FAQ

Series 7 questions, answered.

Who can take the Series 7?
Sponsorship by a FINRA member firm. Co-requisite: SIE. Financial advisors and brokers at retail and full-service broker-dealers, sponsored by their firm.
What score do I need to pass the Series 7?
72%, on 125 scored questions (plus 5 unscored pretest questions you can't tell apart). Our green light starts at 80%, so you prepare to clear the line with room to spare.
How much does the Series 7 exam cost?
The exam fee is $395, paid when you enroll for the exam. It's separate from the price of the course.
How long should I study for the Series 7?
Plan on about 78 hours with our course, including quizzes, reviews and practice exams. The planner above turns that into a target date for your schedule.
How long do I have access?
12 months of full access for a single $199 payment. No subscription, nothing renews automatically.
Is Series Ready affiliated with FINRA?
No. Series Ready is an independent study provider. Our courses are built on the publicly available content outlines and rules, but we are not affiliated with, endorsed by or sponsored by FINRA or NASAA.

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